After falling $5 billion in March at the start of the coronavirus crisis, Israel’s foreign exchange reserves rose $7.594 billion in April to stand at a record $133.539 billion at the end of the month, the Bank of Israel reports. The reserves represent 33.8% of GDP. The increase was the result of: foreign exchange purchases by the Bank of Israel totaling $727 million; a revaluation that increased the reserves by $2.073 billion; and government transfers from abroad totaling $6.484 billion. The increase was partly offset by private sector transfers of $1.690 billion. RELATED ARTICLES Israel's foreign exchange reserves fall $5b Over the past 12 months, Israel's foreign exchange reserves have risen from $118.7 billion to $133.5 billion. Published by Globes, Israel business news - www.globes-online.com - on May 7, 2020 © Copyright of Globes Publisher Itonut (1983) Ltd. 2020
